SparkLiang
I made 30% LOSSES in just a couple of months! In 2015, I bought $SPXU (ProShares UltraPro Short S&P 500), a leveraged inverse ETF, because I had a hunch that the U.S. stock market would slip at least 20% due to the then deepening Greek debt crisis. The idea behind SPXU is that, if S&P 500 ($SPX500) declines by 20%, the SPXU would surge by 60% - which would give me a 60% return. Initially, the index slid by 10%, and I was earning a handsome 30% return on it. I was overjoyed. Thinking that I was onto something, so I held on and waited for the market to further drop. It was going well, until the Eurozone leaders decided to step in. From thereon, everything went downhill. Eventually, I swallowed 30% losses. All thanks to my “intuition”. Lesson learnt? Never try to predict the market. It was an expensive lesson, but one I had to learn regardless. Yet, it’s something you could avoid if you learn enough about the mistakes I’ve made while investing. To do that, you just need to subscribe to my free newsletter here: bit.ly/join-my-newsletter-now
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